We withdrew a 401k in august of 2020.
I haven’t filed my 2022 taxes but if I make a payment this week in 2023 will it be applied to next tax year or do I amend my 2022 return to show a repayment?
or can I amend a 2020 return to elect it all be claimed at once instead of spilt.
thanks
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If you make a repayment before filing your 2022 tax return, you would need to modify (not amend) your 2022 tax return to reflect that before filing. If you repay amounts that were taxed in previous years (2020 and 2021), you would have to amend those years' tax returns.
So even if I make a payment in the year 2023 I won’t need to wait to claim on 2023 taxes? I just want to make sure if I make it now I can include it on year 2022 taxes for the last of the 3 year election.
Repayments made in 2023 before you file your timely-filed 2022 tax return are to be included on your 2022 Form 8915-F.
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